Boosted by expanded sales in the North American market, TYM achieved improved results in the first half of this year.

TYM announced on the 6th its provisional consolidated results, reporting first-half revenue of KRW 552.2 billion and operating profit of KRW 62.6 billion. Compared with the same period a year earlier, revenue increased 13.1% and operating profit rose 59.1%. Net profit for the period climbed 148.0% to KRW 56.7 billion. The operating margin and net margin stood at 11.3% and 10.3%, respectively.

In the second quarter, revenue came in at KRW 262.5 billion, remaining at a similar level to the same period last year. Operating profit was KRW 27.6 billion and net profit for the period was KRW 26.5 billion, up 13.9% and 110.8%, respectively.

The improvement in performance was driven by stable business operations centered on the North American market. TYM expanded sales of local strategic models such as the T4058P and T5075, and increased the share of medium- and large-horsepower tractors to enhance profitability. Strengthening service competitiveness through technical training for North American dealers and improved responsiveness in parts supply also contributed to the better results.

Kim So-won, CEO of TYM, said, “These results demonstrate the competitiveness accumulated by providing products and services that customers want in the global market,” adding, “TYM will continue to pursue sustainable growth in the global market by responding preemptively to the changing agricultural environment and leveraging differentiated product competitiveness and technological innovation.”

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